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Business Law Chapter 17 Test
Test Description: Good Luck!
Instructions: Answer all questions to get your test result.
1) Temporary possession and control of goods is the focus of the bailment relationship.
A
True
B
False
2) The subject of the bailment must be real property.
A
False
B
True
3) Actual bailments and constructive bailments are two ways to transfer possession and control of goods.
A
True
B
False
4) Both bailor and bailee must intend that the goods be returned.
A
True
B
False
5) When there is no difference between one unit of the goods and another, the goods are said to be fungible.
A
False
B
True
6) A bailee entitled to payment may exercise the bailee’s lien.
A
True
B
False
7) Elements of bailment do not include
A
return of identical or fungible goods
B
personal property
C
real property
D
possession and control of the goods by the bailee
8) The nature of the bailee’s duty of care may be modified by
A
disclaimer
B
legislation
C
any of these
D
contract
9) I hire a rental pod company to hold onto my materials, who is the bailor in this situation?
A
Both of Us
B
Pod Company
C
Me
10) A symbol of possession given to enact a bailment is called a ________ bailment.
A
Constructive
B
Intangible
C
Integral
D
Actual
11) Temporary control gained by a bailee is called.
A
retroactive control
B
involuntary stoppage
C
custody
12) Which of the following bailments would be fungible?
A
First-Edition Comic Book
B
Having Wedding Rings Cleaned
C
Filling a Propane Tank
D
Having a ice house insulated
13) Driving your car into a paid parking ramp has a bailment control-factor of:
A
The Ramp
B
The Ramp's Owner
C
The Car
D
The Keys
14) Regardless of the bailment, all bailors must disclose:
A
Product's Manufacture Location
B
Product's Value
C
Product's Defects
D
Product's Past Owners
15) The FDA lowering the acceptable level of radon gases in livable spaces would modify a bailment by:
A
Disclaimer
B
Liens
C
Legisation
D
Contract
16) To ensure repayment, bailees can enforce:
A
Liens against goods
B
Shipment of items across state lines
C
Destruction of property
D
Selling of goods
*select an answer for all questions
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